The rebate on stamp duty announced by the Bengal government, if equally matched by developers by way of discount, could boost the sales of residential properties in Calcutta, experts feel.
Bengal has reduced stamp duty by 2 per cent and cut circle rate — a government pre-decided rate at which a property must be registered in a given location — by 10 per cent in its budget in July.
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When a similar announcement was made in Maharashtra in September, many developers extended a matching rebate to make a transaction ‘free’ of stamp duty payment altogether. The end result was record breaking sales and launches.